Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system. Date Units Unit Cost $148 Total Cost $ 1,184 August 1 1,380 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($165 each) Purchase Sale ($180 each) Purchase Sale ($190 each) Purchase 1,280 1,416 5,260 $ For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase. Problem 6-2B Part 1 Required: 1. Calculate ending inventory and cost of goods sold at August 31, using the specific identification method. 1.988 Ending inventory Cost of goods sold Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) [The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system. Date Units 8 Unit Cost $148 Total Cost $ 1,184 August 1 August 4 August 11 August 13 138 1,380 Transactions Beginning inventory Sale ($165 each) Purchase Sale ($180 each) Purchase Sale ($190 each) Purcha August 20 1,280 August 26 August 29 118 1,416 5,260 For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase. Problem 6-2B Part 2 2. Using FIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic Inventory system. Date Units 8 Unit Cost $148 Total Cost $ 1,184 August 1 August 4 10 138 1,380 August 11 August 13 August 20 August 26 Transactions Beginning inventory Sale ($165 each) Purchase Sale ($180 each) Purchase Sale $190 each) Purchase 1,280 August 29 1,416 5,260 $ For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase. Problem 6-2B Part 3 3. Using LIFO, calculate ending inventory and cost of goods sold at August 31. Ending inventory Cost of goods sold Required information Problem 6-2B Calculate ending inventory, cost of goods sold, sales revenue, and gross profit for four inventory methods (LO6-3, 6-4, 6-5) The following information applies to the questions displayed below.) Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system. Date August 1 Units 8 Unit Cost $148 Total Cost $ 1,184 138 1,380 August 4 August 11 August 13 August 20 August 26 August 29 Transactions Beginning inventory Sale ($165 each) Purchase Sale ($180 each) Purchase Sale ($190 each) Purchase 1,280 1,416 5,260 For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase. Problem 6-2B Part 4 4. Using weighted average cost, calculate ending inventory and cost of goods sold at August 31. (Round your intermediate and final answers to 2 decimal places.) Ending inventory Cost of goods sold